Betting volume drops in April as slower summer season approaches, but state reaches historic milestone in sixth month of sports betting, according to PlayTenn analysts.
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Michigan and Pennsylvania are two states that went all the way when it came to legalizing online gambling. They not only legalized online sports betting, but added online casino and poker to the mix. However, while operators jumped in quickly to the online sports betting market, online poker has followed on at a more sedate pace.
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According to the numbers released Monday by the Illinois Gaming Board, the state’s total sports betting handle came out to $633.6 million, up 24.3% from February’s $509.8 million. March’s total eclipsed the previous high of $581.5 million which was reported in January 2021
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In October 2020, it was announced Wynn Resorts had signed a deal with GAN Limited, a company who provide internet gambling software-as-a-service solutions to the US land-based casino industry. There is a 10-year agreement on the table, and this is the clearest sign yet that Wynn Resorts are serious about taking on the US iGaming market.
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Even though baseball spent decades seeming to abhor the very idea that anyone would bet on games, current MLB Commissioner Rob Manfred has been inching toward an association between baseball and betting for years. In 2015, Manfred said of sports betting that it was “important for there to be a conversation between me and the owners about what our institutional position will be.” More recently, he called sports betting “a massive opportunity for fan engagement.”
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In a statement last Thursday, Caesars said it would develop a sportsbook and sports bar concept on the plaza adjacent to Chase Field, the Diamondback home stadium in downtown Phoenix.
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Sportsbooks in Iowa have documented an April slowdown from the March Madness inspired highs of just one month earlier, recording its lowest handle since December ahead of an anticipated slower summer period.
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According to Nielsen ad-spend data, online sportsbooks and gambling sites in the first quarter poured $153.6 million into local station coffers, an investment that has made the nascent industry one of the biggest players in the spot TV space.
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Caesars Entertainment watched how well fellow luxury retail casino and hotel brand MGM Resorts International‘s brand, BetMGM, performed financially in Michigan during the past three months. Now that BetMGM is the state’s No. 1 revenue-generating operator, Caesars CEO Thomas R. Reeg said he’s encouraged about his brand’s prospects.
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Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: MGM Resorts International (NYSE: MGM), FansUnite (OTC: FUNFF) (CSE: FANS), fuboTV (NYSE: FUBO), and DraftKings (NASDAQ: DKNG).
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In what may be a warning shot to Gov. Ron DeSantis and the Legislature in their pursuit of a gambling deal that will legalize mobile sports betting in Florida, a new poll commissioned by No Casinos shows 76% of Floridians surveyed say voters should have to approve.
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